BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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National Income indicates
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The number of families below poverty line.
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Goods and Services in Economy
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Growth of Economy
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B and C
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Explanation:
Detailed explanation-1: -The formula of National Income is: NI = C (household consumption) + G (government expenditure) + I (investment expense) + NX (net exports).
Detailed explanation-2: -The broadest and most widely used measure of national income is gross domestic product (GDP), the value of expenditures on final goods and services at market prices produced by domestic factors of production (labor, capital, materials) during the year.
Detailed explanation-3: -National Income is defined as the total monetary value of all goods and services produced within a country during a given period of time. It is an important indicator of the economic activities that are taking place within a nation.
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